HomeMy WebLinkAbout00-05910
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711. ()1J.5'1/0 ~T~
NOTE rLt<
$20,000.00 DATE: ~OOO
FOR VALUE RECEIVED, AND EVEIDENCED BY TH PROMISSORY NOTE DATED MARCH 10
,
1992, A COPY OF WIllCH IS ATTACHED HERETO AND MADE PART OF TillS NOTE THE
UNDERSIGNED LINDA MONlSMITH ( THE "PROMISOR") EACH AS PRINCIPAL, SEVERALLY
PROMISE TO PAY TO THE ORDER OF FRANCES SHEETZ (THE "PAYEE"), AT SUCH PLACE AS
THE P ^ YEE MAY DESIGNATE IN WRITING, THE SUM OF $20,000.00 WITHOUT INTEREST.
THE PROCEEDS OF THE PROMISORY NOTE WERE USED TO PURCHASE THE MARITIAL
PROPERTY AT 7068 WERTZVILLE ROAD, PROPERTY HELD BY THE PROMISOR.
THE UNPAID PRINCIPAL SHALL BE PAYABLE IN FULL AT SALE OF THE PROPERTY AT 7068 '
WERTZVILLE ROAD, MECHANICSBURG, PA. SHOULD THE PAYEE DIE PRIOR TO THE DUE
DATE, THE AMOUNT OWED TO THE PAYEE BY THE PROMISOR SHALL BE PAID TO
BRYANNA SHEA BROOKS. IF BRlANNA SHEA BROOKS HAS NOT YET REACHED THE AGE
OF EIGHTEEN YEARS, PRINCIPAL SHOULD BE HELD IN TRUST AND DISBURSED TO
BRYANNA SHEA BROOKS UPON HER REACHING THE AGE OF EIGHTEEN. IF BRY ANNA
SHEA BROOKS HAS PREDECEASED THE PAYEE, THE PRINCIPAL SHALL BECOME
IMMEDlATEL Y OWING THE ESTATE OF THE LAST PROMISOR.
IF ANY PAYMENT OBLIGATIONS UNDER THIS NOTE IS NOT PAID WHEN DUE, THE
PROMISOR PROMISES TO PAY ALL COSTS OF COLLECTION, INCLUDING REASONABLE
ATTORNEY FEES. WHETHER OR NOT A LA WSillT IS COMMENCED AS PART OF THE
COLLECTION PROCESS.
W ANY OF THE FOLLOWING EVENTS OF DEF AUL T OCCUR, TillS NOTE AND ANY OTHER
OBLlGA TIONS OF THE PROMISOR TO THE PAYEE, SHALL BECOME DUE IMMEDIATELY,
wrTIIOUT DEMAND OR NOTICE:
1) THE DEATH OF LINDA MONISMITH;
2) TIlE FILING OF BANKRUPTCY PROCEEDINGS INVOLVING THE PROMISOR AS A
DEBTOR;
3) TIlE APPLICATION FOR APPOINTMENT OF A RECIEVER FOR THE PROMISOR;
4) THE MAKING OF A GENERAL ASSIGNMENT FOR THE BENEFIT OF THE PROMISOR'S
CREDITORS;
5) THE INSOLVENCY OF THE PROMISOR;
6) TIlE MISREPRESENTATION BY THE PROMISOR TO THE PAYEE FOR THE PURPOSE OF
OBTAINING OR EXTENDING CREDIT;
OR
7) THE FILING OF A DIVORCE ACTION BY THE PROMISORS SPOUSE.
IN ADDITION, THE PROMISOR SHALL BE IN DEFAULT IF THERE IS A SALE, TRANSFER,
ASSIGNMENT, OR ANY OTHER DISPOSITION OF ANY ASSETS PLEDGED AS SECURITY FOR
THE PAYMENT OF TillS NOTE, OR IF THERE IS A DEFAULT IN ANY SECURITY AGREEMENT
WIlleH SECURES TillS NOTE.
IF ANY ONE OR MORE OF THE PRIVISIONS OF TillS NOTE ARE DETERMINED TO BE
UNENFORCEABLE, IN WHOLE OR IN PART, FOR ANY REASON, THE REMAINING
PROVISIONS SHALL REMAIN FULLY OPERATIVE.
ALL PAYMENTS OF THE PRINCIPAL ON TillS NOTE SHALL BE PAID IN THE LEGAL
CURRENCY OF THE UNITED STATES. PROMISOR WAIVES PRESENTMENT FOR PAYMENT,
PROTEST, AND NOTICE OF PROTEST ANI\ NONPAYMENT OF THE NOTE.
,
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NO RENEWAL OR EXTENSION OF THE NOTE, DELAY IN ENFORCING ANY RIGHT OF THE
PAYEE UNDER THIS NOTE, OR ASSIGMENT BY PAYEE OF TillS NOTE SHALL AFFECT THE
LIABILITY OF THE PROMISOR. ALL RIGHTS OF THE PAYEE UNDER TillS NOTE ARE
CUMULATIVE AND MAY BE EXERCISED CONCURRENTLY OR CONSECUTIVELY AT THE
PAYEE'S OPTION.
PROMISOR AUTHORIZE AND EMPOWERS THE PROTHONOTARY OR ANY ATTORNEY OF
THE COURT OF RECORD TO APPEAR FOR THE CONFESS JUDGMENT AGAINST PROMISOR IN'
FAVOR OF THE HOLDER OF TillS NOTE, AS OF ANY TERM, FOR ALL SUMS DUE AND
UNPAID UNDER TillS NOTE, WHETHER BY ACCELERATION OR NOT, WITH OR WITHOUT
STAY OF EXECUTION AND WITH 15% ADDED TO THE COLLECTION FEE. PROMISOR ALSO
WAIVE THE RIGHT OF INQUISITION OF ANY REAL ESTATE LEVIED ON, VOLUNTARILY
CONDEMS THE SAME, AUTHORIZES THE PROTHONOTARY OR CLERK TO ENTER THE WRIT
OF EXECUTION ON SAID VOLUNTARY CONDEMNATION, AGREES THAT SAID REAL
ESTATE MAY BE SOLD ON WRIT OF EXECUTION, AND ALSO WAIVES AND RELEASES ALL
RELIEF FROM ANY AND ALL APPRAISEMENT, STAY OR EXEMPTION LAW OF ANY STATE
NOW IN FORCE OR ENACTED IN THE FUTURE. IF A COPY OF TillS NOTE, VERIFIED BY
AFFIDAVIT OF THE HOLDER OR SOMEONE AUTHORIZED TO ACT ON THE HOLDER'S
BEHALF, HAS BEEN FILED IN SUCH ACTION, IT SHALL NOT BE NECESSARY TO FILE THE
ORIGINAL NOTE AS A WARRANT OF ATTORNEY. THE AUTHORITY AND POWER TO
APPEAR FOR AND ENTER JUDGMENT AGAINST THE BORROWER WILL NOT BE EXHAUSTED
BY ANY SINGLE EXERCISE OF THE AUTHORIZED POWER, AND THE SAME MAY BE
EXERCISED FROM TIME TO TIME AS OFTEN AS THE HOLDER DEEMS NECESSARY OR
DESIRABLE; AND TillS INSTRUMENT WILL BE A SUFFICIENT WARRANT.
TillS NOTE SHALL BE CONSTRUED IN ACCORDANCE WITH THE LAWS OF PENNSYLVANIA.
SIGNED TillS J.,~AY OF fJ~u...ST ,2000
:~i7J
da Monismith
Sworn and subscribed to before me this 28th day, August 2000.
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NOTARY PUBLIC
Nf.ttarl~~ Si:lai , ..
.~. S D""fll"Ci. Notary PubliC
L1l1u9.... AI., "." 'ctl)r~lf'11
am PennSboiO l\.;!f;., CUrri~9r,(\~,... ' .;;.
t;'eommlssiOn G!2!!:~S iJ'~i.::...~...~~
Member. Pennsylvania As,wation of NOWleS
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